BH Group has closed on the acquisition of an Oceanfront development land in Palm Coast. The land is 6.8+/-acres directly on the Atlantic Ocean and within the Hammock Dunes Master Plan. The site is the last large parcel in the Master Plan.
The Hammock Dunes Club is a private ocean front-golf course community (36 holes golf course designed by an upscale golf community). Hammock Dunes is home to two Audubon-certified golf courses surrounded by private beach, stunning ocean and intercoastal views.
The site is fully entitled for 128 luxury condos- a 12-story building with 64 condos and a 7-story building with 64 condos.
The transaction closed on May 30, 2024. BH Group acquired the asset from WCI Communities.
This deal represents a significant milestone in the ongoing development boom within the Florida submarket. BH plans to unveil project details in the coming months.
This marks one of many high-profile development land acquisitions recently for BH Group. In recent news, BH alongside the Kolter Group acquired the beachfront condominium development site on Miracle Mile in Naples for $102.6 Mil. BH also made big headlines with the Related Group and Teddy Sagi for the acquisition of the last parcel in the land of luxury and prestige, Fisher Island for $122.6 Mil.
“BH Group is very excited to solidify the purchase of one the state’s last hidden treasures in the Palm Coast Community. This is an unbelievable destination in Northeast Florida and we are committed to upholding the legacy of excellence associated with Hammock Dunes luxurious atmosphere,” said Liat Toledano, co-founder of BH Group.
About BH Group
BH Group is a Miami-based real estate development firm focused on the ground-up development of luxury projects throughout South Florida. BH has extensive experience in the acquisition, construction, design, capital structuring and asset management of complex developments. For the last 20 years, BH Group has been involved in many large-scale real estate transactions and developments by utilizing strong relationships to provide investors with opportunities not otherwise available in the real estate market. For more information, please visit https://www.bhgroupmiami.com/.
